By Marisa Wong
Madison, Wis., May 14 – Cambridge Industrial Trust priced S$130 million of 3.95% five-year notes, according to a company announcement.
The notes (/BBB-/) will be issued through Cambridge-MTN Pte. Ltd., a wholly owned subsidiary of RBC Investor Services Trust Services Singapore Ltd., the trustee of Cambridge Industrial.
The series 004 notes will be issued under the trust’s S$500 million multicurrency medium-term note program established on Feb. 2, 2012.
CIMB Bank Bhd. is the dealer.
Proceeds will be used to refinance existing borrowings, including a loan maturing in 2016.
The deal has been more than two times subscribed, with strong support from Singaporean and Malaysian investors, according to a press release.
Settlement is slated for May 21.
The issuer is a Singapore-based real estate investment trust.
| Issuer: | Cambridge-MTN Pte. Ltd.
|
| Issue: | Medium-term notes, series 004
|
| Amount: | S$130 million
|
| Maturity: | May 21, 2020
|
| Coupon: | 3.95%
|
| Dealer: | CIMB Bank Bhd.
|
| Announcement date: | May 14
|
| Settlement date: | May 21
|
| Rating: | S&P: BBB-
|
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